Finacle Commands for concurrent auditors Page 1 How To Check Overdraft in CC, CD and SOD accounts

                With the help of finacle dealing with complex banking transactions has become much easier but as a concurrent auditor if you don’t know how to use it, its utility is nil to you and it will make your head to ache. In my first experience with finacle during the initial days of conducting ConcurrentAaudit of a bank I also faced the same scenario. I was on the first interaction page wondering what to do with this software, but with the help of my Principal I developed a smooth hand on its use and learnt a lot about it. It is much easier to use than it seems to you when you first visit a bank for audit purposes. Here I’m going to share its use and help those who are at the same stage this time as I was before a couple of years.

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Some of the aspects Concurrent Auditors have to take care of:

• Overdrafts:
• Cash:
• Documentation and KYC:
• Pending Installments of Term loans:
• Cash Credit accounts operating conditions:
• Observation on information system(maintenance, operating, internal control etc):
•  Verification of high value and unusual transactions:
• Insurance Business:

And more based on the type of bank and type of branch in the bank.

Most Used Finacle Commands which are a must to learn for beginners.

• Acs – Account selection
• Acli – Account ledger inquiry
• Ato – Account turnover
• FTI -  Financial Transaction inquiry
• Laopi – Loans and advances outstanding position inquiry
• Lrp    -   Limit liability report
• CUMI  -  Customer Master Inquiry

How to use the commands in Finacle:

How to check Overdraft  in Current deposits accounts (Outstanding debit balance in current deposit accounts)

•  Step 1.  After logging in to your finacle user ID you will see the first interaction page with “Menu Option”  at the bottom left of the page enter acs in the box and press Enter. Account selection menu will open.
•  Step 2.  Write GL subhead code of current deposit accounts (01010 in case of JK bank) in Gl Subhead option box. Press tab multiple times till you reach the Min. balance option box (or simply use mouse) write 99999999999 in Min. balance option box and press tab to get into Max Bal. option box write 1 and press tab and change the C (credit) option into D (debit option).
•  Step 3. Press f4, and here are the accounts with outstanding overdraft.

                This page will give you the list of the accounts with outstanding balance but you need some more information in order to report the same. Such as date of overdraft in CD account, due date of OD, balance outstanding e.t.c. Follow these steps to gather the required information.

•  Step 1: On the list page move up and down the list by using arrow keys and select the account you  want the information about.
•  Step 2: Press “Ctrl+E” to explode the selected entry. (You can take the balance outstanding from  this page)
•  Step 3: In the options option box enter O and press F4. (O here stands for overdraft)

                Here you get the necessary information to report the overdrafts. Use circulars to decide if an OD is within the power of branch or needs a sanction from higher authorities. If an OD is outside the authority of Branch then check the sanction letter and enter the name of authority in the report also report the sanction number written on the sanction letter.

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How to check the Overdraft in Cash Credit accounts.

One of the facilities which commercial banks provide to businessmen is cash credit facility. Making it easier to understand, CC is nothing but the credit(money) given by the bank with a certain upper limit  to provide the working capital requirements of business in return bank charges some interest as a consideration for the facility.

As we saw in the case of CD accounts we get the list of accounts with OD by following acs(account selection) command. Here in the case of CC (cash credit) accounts it is complex to get that information from acs because these accounts already have a debit balance in their accounts (CC limit given by the bank) and the overdraft is over and above the CC limit. So we use the "lrp" (limit liability report) command to get the list of accounts with overdraft. Remember CC account can have the outstanding balance  due to interest application which is reported somewhere else. Here we have to report only those accounts which have outstanding overdraft. Follow these steps to get the necessary information.

•  Step 1)  On the first interaction page enter lrp in the menu options’ option box and press ENTER
•  Step 2) New menu will open up with approximately 13 available selectable options  with 8^th   option as “View/Print Accounts (Agewise Overdrawings in CCA/ODA)” press 8 and then press F4.
•  Step 3)  It will ask you for the SOL ID, enter the SOL ID of you bank branch and press f4.
•  Step 4) Now it will ask you for the GL Subhead Code of the account type, enter the GL SUBHESD code (write the code not CC) and press f4.
• Step 5)  New menu will open with options as “Print or type or File (P/T/F) ?” Enter T( which stands for type)  and press f4.

Here you get the list of accounts with outstanding balance.

Again, this page will give you the list of accounts with outstanding balance and sanctioned limit but you need some more information in order to report the same. Such as date of overdraft (OD), due date of OD, balance outstanding etc. Follow these steps to gather the required information.

Step 1)  On the first interaction page enter acli in the menu option’ option box and press                     ENTER

Step 2) New selection criteria menu will open up with first option as A/C no. enter 16 digit account number (first 4 digits are branch’s SOL ID next 5 are GL Subhead of the account type, last digits are the account holders account number and in between the GL Subhead and account number press and hold 0 to fill the remaining digits e.g., 1234567890000020, where account number = 20 GL subhead = 56789 and Sol ID = 1234) and press F4.

Step 3   Now press Ctrl + E, new menu will open with some details of the account holder, you can take the outstanding amount from this menu.

Step 4   In the Enter Option” option box (in the bottom left) enter O (which stands for overdraft) and press f4

Here you get the necessary information to report the overdrafts. Use circulars to decide if an OD is within the power of branch or needs a sanction from higher authorities. If an OD is outside the authority of Branch then check the sanction letter and enter the name of authority in the report also repot the sanction number written on the sanction letter.

Repeat the steps to gather information about rest of the accounts with OD.

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How to Check Overdraft in Secured Overdraft Accounts(SOD).

The Procedure is same as that of Checking Overdraft in CC accounts.

             Step 1)  On the first interaction page enter lrp in the menu options’ option box and press                     ENTER

Step 2) New menu will open up with approximately 13 available, selectable options  with 8^th option as “View/Print Accounts (Age-wise Overdrawing in CCA/ODA)” press 8 and then press F4.

                Step 3)  It will ask you for the SOL ID, enter the SOL ID of you bank branch and press f4.

Step 4) Now it will ask you for the GL Subhead Code of the account type, enter the GL SUBHED code (write the code not SOD) and press f4.

Step 5)  New menu will open with options as “Print or type or File (P/T/F) ?” Enter T( which stands for type)  and press f4.

Here you get the list of SOD accounts with overdraft.

Again, this page will give you the list of accounts with outstanding balance and sanctioned limit but you need some more information in order to report the same. Such as date of overdraft (OD), due date of OD, balance outstanding etc. Follow these steps to gather the required information.

Step 1)  On the first interaction page enter acli in the menu option’ option box and press ENTER

Step 2) New selection criteria menu will open up with first option as A/C no. enter 16 digit account number (first 4 digits are branch’s SOL ID next 5 are GL Subhead of the account type last digits are the account holders account number and in between the GL Subhead and account number press and hold 0 to fill the remaining digits e.g., 1234567890000020, where account number = 20 GL subhead = 56789 and Sol ID = 1234).

Step 3   Now press Ctrl + E, new menu will open with some details of the account holder, you can take the outstanding amount from this menu (Shown as A/C Bal).

Step 4   In the Enter Option” option box (in the bottom left) enter O (which stands for overdraft) and press f4.

Repeat the steps to gather information about rest of the accounts with OD.

How to check if a CC account has been renewed or not:

Concurrent auditors have to check following things in case of renewed accounts:

                Documentation

                Deduction of renewal charges (LPC)

But in the first place one needs to know if an account has been renewed or not, following steps will help you to know that.

               Step 1.   On the first interaction page enter acs in the menu options’ option box and press ENTER

               Step 2.   Write GL subhead code of Cash Credit accounts in Gl Subhead option box.          Step 3. Press f4, and here are all the CC accounts.

              “We already know the accounts which were due for renewal in the month and by using that information we can track the accounts which are not in the pending renewal report, those account might have been renewed” another way to get the list of accounts which might have been renewed is to interact directly with bank employees and ask them for the list.

                Step 4. Using arrow keys or Ctrl+D keys find the account which you have to check (you can check all the CC accounts for renewal but that is a long route to go through), once you find that account and Press  “Ctrl+E” to explore.

                Step 5: In the options option box enter h and press F4.

                Step 6: Sanction Limit Details menu will open up, Press Tab to go to Operation” option box.

                Step 7: Enter S (which stands for sanction limit) and press F4.

                Now check if the account Expiry date has been extended for one year, if so, the account has been renewed, if not the it is simply the case of self extension of renewal date by branch, which too needs to be reported by the concurrent auditor.

How to Check Pending Renewals
How to check if a CC account has been renewed or not
How to check Default of Installments and Interest Excluding NPA (laopi)
Daily cash balance checking
How to Check “General Ledger” of a bank